I want to lend someone some money for their deposit. I am happy to call it a gift and wait until/if they are flush to make me a return gift. I know this is not legitimate but since I do not intend to make this a formal loan and there is no pressure on the borrower to repay it until they are well able to, it does not affect their repayment capacity in servicing their mortgage and I see nothing wrong with it.
My questions are:
Will the bank want to know the provenance of the money?
What am I missing?
My questions are:
Will the bank want to know the provenance of the money?
What am I missing?